Electrolux profits below expectations

Swedish home appliance giant Electrolux posted a 25 percent second quarter profit increase on Tuesday, missing expectations, but its outlook for 2006 was the same.

The company reported a pretax profit excluding extraordinary items of 765 million kronor, while sales were 25.32 billion kronor. Sales were expected to reach 25.76 billion kronor, up from 24.24 billion kronor.

Electrolux said in its report that it planned on partnering with Japan’s Sharp to create a frost free refrigerator that will be made at the Sharp plant in Thailand and would be out later in 2006.